Pagcor admits private casinos hurting revenues

Pagcor President and Chief Operating Officer Jorge V. Sarmiento has admitted that competition from private casinos is hurting revenue, but says the former monopoly can compete. “Coming from being the monopoly in the gaming industry, we’ve been really affected. But we believe that we can still co-exist with these new players,” he said. As previously reported, Pagcor’s gross revenue in the first nine months was 5 percent below its target for the period.  Pagcor has also had to close casinos, including at the Heritage Hotel Manila.

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